Idemitsu and AltaGas form partnership to explore gas exports

29 January 2013 07:46[Source: ICIS news]

SINGAPORE (ICIS)--Japan’s Idemitsu Kosan and Canadian energy infrastructure firm AltaGas have formed a partnership to pursue opportunities involving exports of gas from Canada to Asia, the two companies said late on Monday.

AltaGas and Idemitsu will each own a 50% interest in the venture that will be called AltaGas Idemitsu Joint Venture Ltd Partnership, they said in a joint statement.

“The partnership plans to pursue opportunities to develop long-term natural gas supply and sales arrangements to meet the growing demand for natural gas in Asia,” the two firms said.

The partnership will undertake feasibility studies for the development and construction of liquefaction facilities as part of the proposed project to export liquefied natural gas (LNG) to markets in Asia, the two firms said.

The study is expected to be completed by early 2014, and “proposed LNG exports could begin as early as 2017”, they said.

The feasibility study is expected to be completed by this year, and the proposed LPG export business could begin as early as 2016, they said.

“The partnership will also evaluate additional opportunities to own and operate infrastructure assets for other energy businesses in North America and to supply energy from North America to Japan and other growing countries in Asia,” the two firms added.